For the second year in a row, the Charlie Palmer Group has asked for an extension on its plans to build a hotel near The Smith Center.

The reason, they say, is that the market is still unstable and they want to know what will be built next door.

"I hope it happens, we hope it happens,” said Rick Caufman, president of the Charlie Palmer Group, “but there seemed to be some new announcements in town about new arenas that might give one pause."

Originally a world jewelry mart was planned for that plot, along with condos and other high rises, but now the land is under exclusive negotiation with The Kordish Group.

Kordish has in the past indicated they want to build an 18,000-seat arena.

Caufman may be skeptical of the arena plan, but the group -- he says -- is absolutely sold on Symphony Park.

They like the spot, he says, including the newest addition of the Lied Discovery Museum, but he says they want more information on other developments so they know how to proceed.

Councilman Ricki Barlow and other city leaders are equally committed to The Palmer Group, saying the hotel would make an excellent addition to the plan. An extra year, they say, is really not that much to ask.

The Charlie Palmer Group will have until February to develop. It already placed a hefty deposit on the land, but the sale itself has not closed.